There are many different online accounting solutions, most of them based in the U.S., Canada or in the United Kingdom. FreeAgent and KashFlow are originating from the UK, but the similarities don’t stop there: both software focus on the UK market, but they also allow non-UK citizens to subscribe to their services. Despite being quite similar to each other regarding certain features that are necessary to keep running a successful business, they have many differences too, like their pricing plans, the duration of the free trial, the list of applications that can be integrated and the mobile versions.
|Free Trial||Free Trial||Free Trial|
|Time Sheet Sharing|
|Multiple Tax Rates|
|Windows Mobile App|
|Integrations & Extra Services||
|Paper Invoice Service|
|Credit Card Payments|
|Lowest Price||$20/mo||£6/mo (ca. $8.40/mo)|
|1 Month Plan||$24/mo||£12/mo (ca. $16.80/mo)|
|3 Months Plan||n/a||n/a|
|6 Months Plan||n/a||n/a|
|1 Year Plan||$20/mo ($240)||n/a|
|Free Trial||30 days||14 days|
|Money Back Guarantee|
|Headquarters||United Kingdom||United Kingdom|
FreeAgent is a completely cloud-based accounting solution created in 2007 mostly for UK sole proprietors and small businesses. The software, trusted by over 40,000 users, is a great companion if you want to easily create and manage your multi-currency, multi-lingual invoices and estimates, quickly process your expenses, have a completely automated, real-time accounting feature, and see your 1040 Schedule C reporting for sales taxes. FreeAgent also has a neat project creating feature with a stellar built-in time tracking software allowing you to include billable and unbillable time in your invoices. If you connect your account with your bank, all your bank transactions will be imported to the software and will be recognized from then on. You can also see 7 different reports which you can send to your accountant who, upon invitation, is also eligible to use your account.
FreeAgent, which offers and supports an API, can be integrated with 30 third party software from expense handling tools to a handy Google Chrome add-on. If you are out of your office, you can choose whether you want to access your account using a mobile browser or an application containing the most important features. The pricing is simple: after the expiration of the 30-day trial you can either choose the monthly subscription, which is $24 per month, reduced by 50% for the first 6 months, or the pre-paid annual plan which costs only $20 per month. The subscription includes the fully functional software and free customer support.
KashFlow is very similar to FreeAgent as it is also a cloud-based accounting solution, it is also based in the UK and it was also developed for the local clientele. The software has a very secure, two-step login feature, and allows you to easily create invoices, including the repeating ones. You can also quickly create purchases (expenses) and quotes with the aid of the quick button, and create projects with KashFlow after you have activated this feature in Settings. The software is also capable of automatically generating different reports such as profit & loss, trial balances and balance sheets which you can export and send to your accountant with just a few clicks.
KashFlow has a stellar mobile version that has all the features of the desktop version, allowing you to manage your businesses on the road if you have constant internet connection. The accounting solution can be integrated with over 50 different third party applications, and the company offers and supports an API. Customer service is 24/7 and includes phone and email support, UK-based trainings, and webinars. There are three versions of the software, all of which can be purchased for British pound: Starter is ₤5 per month, but invoicing, bank transactions, and third-party integration is limited. Business costs ₤10 per month, but it has all the necessary features except for payroll, which is only included in the ₤15 per month top package. This latter package is the one that can be tried out for free for 14 days.
Like we said FreeAgent and KashFlow have many similarities such as their country of origin and their friendly pricing policy, but they have different strategies to recruit and keep their clients. FreeAgent is an ideal solution for those who want a software that includes everything they need for the same price: easy and quick document creation, a creative projecting and time tracking option, automated accounting and bank reconciliation, integration with a decent amount of third party apps, access from everywhere and an award-winning customer support. KashFlow, however, offers its clients three different pricing plans with slightly different features. Thus depending on the chosen plan, you will get a software that quickly creates invoices, purchases, quotes and even projects, has a wide variety of reports, and integrates over 50 different third party applications. KashFlow also allows you to access its services via mobile browser and to contact its customer service 24/7.